ChelseyFitzgerald7OP

econ

A detailed Twitter thread on the new Ledger "Recover" nightmare

JoanHudsonYK5

Day 225 of snailposting everyday 'til BTC hits $100k.

...and 25 push-up(s).

__@_'-'

Music

It's called Insightful Bits, and it's a platform where marketers can post ads, market research surveys, or other activities that users participate in, and in exchange they earn Bitcoin rewards for each engagement. A 45 second experience could pay 3,600 sats. A 3 minute survey might pay 11,000. A market research study might be 45 minutes and pay 150,000 sats. It all depends on what the marketer wants to offer to incentivize users. 

This blog highlights the mission. https://insightfulbits.medium.com/better-marketing-through-mutual-value-a-bitcoin-backed-blueprint-f1f22442646

I come from a digital advertising background so I know what advertisers want, and I understand the limitations of the existing advertising options. 

Users would decide which data about themselves they want to include in their profile, and they decide which marketing experiences they want to participate in. So this shifts the power back to the audience to decide the terms on which they’ll engage. 

Marketers will get exponentially better engagement than the 1% they typically get in the digital ad landscape. And they’re rewarding the consumer rather than ad servers. Hundreds of billions is spent each year on digital advertising to stalk users. 

I’d love to get feedback from the Bitcoin community about ways this model could be made even better or more appealing to the audience. 

I’m also looking for talented individuals who have platform development/software engineering experience, and also those who can help build a large audience in a cost effective way. 

The larger the audience, the more advertisers will want to get in on this. Bitcoiners are the coveted 18-50 demographic, they skew higher income, and they’re a growing and influential group. I want to make sure we use this growing power to reshape the dynamics of digital advertising into one that empowers sovereign individuals. 

All feedback, questions, suggestions, or talent welcome as I work on bringing this to fruition!

Also, I welcome all Bitcoiners to join the waitlist. We launch in a few months. https://insightfulbits.com 


Building a platform where ad engagement earns sats rewards. Feedback welcome!

A decade-old documentary about today's culture in the west

bitcoin

How A Small Team of Devs Created React at Facebook

RebekahKirbyQID

Come to the next one!
This is a high signal event.

What will become of North Korea?

I don't know why I'm so fascinated with gold confiscations throughout history. But I am. 

Here's another one (in addition to the confiscation in 1933 in the United States, see [Gold "hoarders" were persecuted in the 1930's, what will happen with bitcoin?](https://stacker.news/items/275618)).

This is an excerpt from the book **Shanghai : the rise and fall of a decadent city, 1842-1949**. The context of the excerpt is - the fall of the Nationalists in the city of Shanghai, China, to the Communists. The gold confiscation happened in 1948, the Communists conquered the city in 1949.

> On August 19, in a last desperate measure to restore economic stability, Chiang played what the Chinese newspapers would later call his “last trump card.” He announced the replacement of the old currency by a “gold yuan,” which would be convertible from the old Chinese dollar at the rate of three million to one and pegged at one gold yuan to four American dollars. 

> Under penalty of death, all Chinese holding gold, silver, or foreign or Chinese currency were required to surrender their wealth to the Central Bank in exchange for the new gold yuan. To coerce the reluctant citizenry into complying with this draconian measure, Chiang Kai-shek appointed his Russianeducated son, Chiang Ching-kuo, commissioner of the program, sending him to Shanghai, where the pickings were richest. Approaching his assignment with vigor and severity, Chiang organized a large force of spies and police, who used Soviet-style methods to terrorize the public into compliance.

> He declared his intention to search private homes for all currency and valuables that had not been turned over to the authorities. Then he sent trucks into wealthy neighborhoods to announce through loudspeakers that the trucks contained special instruments capable of detecting the presence of hidden gold, silver, and other valuables, even those buried underground. 

> These and other similarly heavy-handed tactics succeeded in frightening scores of law-abiding citizens into handing over their life savings for fear of arrest. Wages and prices were also frozen, and shopkeepers were forced to sell their goods at the artificial prices. To curb the black market, Chiang Ching-kuo had his secret police comb the waterfront in search of warehouses with stores of hoarded goods. Numerous culprits were arrested and a few of them, among them several prominent businessmen, publicly executed as a warning to others.

> But the gold yuan slipped after a month, becoming as worthless as its predecessor. As ineptly handled as everything else the Nationalists did, the attempt at reform failed, because the government had done nothing to increase its revenues or decrease its spending. Moreover, the “reform at pistol point” had antagonized the business community in Shanghai and brought about food  shortages and the ruin of many shopkeepers and merchants. Worst of all, Chiang Kai-shek had irreparably alienated the last of his supporters, the urban middle class, who had surrendered their life savings in hopes of resuscitating the economy. Instead, they had lost everything; they’d been robbed and “shaken down” by their government.





Gold confiscation in Shanghai, 1948

Good morning.

Last night I went through all of my Fiat debt and Bitcoin holdings. I'm absolutely embarrassed by the Fiat debt. It's astronomical for me. 

However...

At least now I can see the reality and the numbers. Regardless of what "others are doing" it's my trap that I've entered and now I recognize my slavery for what it is. 

So...

I make it part of my spiritual journey to liberate myself from this slavery. The tools are available and I have the freedom to use them. 

The Good News...

I had already figured out how to use GnuCash to track my Bitcoin and I'm glad that I revisited this in combination with my Fiat usury. I've learned that at my current holdings I would have to hope for a Bitcoin buying power of $1,000,000 just to break even! That means that in today's USD buying power I would hope that doesn't change but it will. They will increase the supply of USD.

So my debt is USD defined and my current earnings are in USD which my earnings have to pay for current and future USD prices. 

Interest rates, inflation and taxes will increase. My Bitcoin will also increase in buying power but it currently will not outpace my debt. I have to increase my stacking and I have to increase my paying off of my Fiat debt. 

Using GnuCash I was PLEASED to see that It actually can be done! I can budget. I can see the data and I can respect my earnings instead of pissing them away and hoping for a miracle. 

I'm able to work. I'm able to work faster than the value of my debts and the increased price of Bitcoin. This means I must cultivate my Bitcoin and earnestly reduce my Fiat debt... Totally possible.

I'm hearing people say that a "speculative attack using Fiat debt" is possible. You're fooling yourself. You are not that smart. I've already been there and if I wasn't FIAT smart to begin with, how could I be with Bitcoin? The answer is that I still have to keep score even if the game is rigged. 

I've wanted to do a write up on using Bitcoin with GnuCash so maybe I will. 